BitChair Limited allegedly is a cryptocurrency mining company. The mining activity is supposed to create profits for the investment plans that offer daily returns between 10% and 15% forever. Moreover there are another 6% offered in the referral program.
So, is BitChair a legit investment opportunity? No!
There is a simple truth given by the economic reality: Any program offering 10% to 15% daily returns has to be a Ponzi scheme, because there is absolutely no way to create such massive profits in any egit activity.
300% – 450% monthly or 3650% – 5475% yearly is absolutely impossible on a regular basis doing cryptocurrency mining or trading. It’s a fact. Period.
BitChair uses the typical trick of crypto scams, it hides behind a newly registered company in the UK. BitChair Limited was established only at the end of August 2017, so it is two months old. No proven track record, no history.
You also have to realize that BitChair only has a registration for tax purposes, which does not say anything about the lawfulness of its activities.
In fact, BitChair is operating illegally, because it is offering investment services without having a licence from the Financial Conduct Authority.
Investment services are regulated in the UK, so no FCA registration means that BitChair is illegal.
How it really works
BitChair is a Ponzi scheme. This is why it offers daily returns that are so high. Ponzi schemes collect deposits from the public and initially pay the profits by taking money from new deposits. This way they attract more investors.
When scammers are happy with the capital they collected from the public, they will close down the scheme and run away with all the money. This is also why these crypto scams accepts deposits in cryptocurrencies only, scammers want to remain anonymous.
BitChair is a scam, a Ponzi scheme. Sooner or later it will collapse and money will disappear. Stay away from it!
Making money in crypto trading is possible, but not hundreds of percent per month. You can try a free demo account and see how it really works.
Trading is risky, so be sure to first build a profitable strategy on the demo. And even then you can trade only with money that you can afford to lose.